Tuesday, February 15, 2011

Virginia posts 12.6% revenue growth for January

Continuing a trend that has been true for ten of the past eleven months, Virginia posted a growth in revenue for January, as announced by Governor Bob McDonnell.

According to the administration, "Governor Bob McDonnell announced today that January revenue collections increased by 12.6% over the prior year. This is the tenth month out of the last 11 in which state revenue collections exceeded the previous year’s amount. Excluding tax amnesty revenue, it is the third month in a row in which year-over-year revenue growth was greater than 9%."

Will upticks in revenue lessen the choke-hold on revenue-starved state agencies around the state? Some who have experienced deep financial cuts may consider this a sign that their fiscal woes may be about to lessen.

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